Energy Transfer Operating, L.P. Announces Intention to Delist 4.250% Senior Notes Due 2023, 5.875% Senior Notes Due 2024, & 5...
September 21 2020 - 6:25PM
Business Wire
Energy Transfer Operating, L.P. (“ETO”) announced today that it
has notified the New York Stock Exchange (the “NYSE”) of its
intention to voluntarily delist its 4.250% Senior Notes due 2023,
5.875% Senior Notes due 2024, and 5.500% Senior Notes due 2027
(collectively, the “Notes”) from the NYSE (the “Delisting”), and
intends to file a Notification of Removal from Listing on Form 25
relating to the Delisting on or about October 1, 2020 (the “Form
25”) with the Securities and Exchange Commission (the “SEC”). The
Delisting will be effective on the 10th day following filing of the
Form 25, and the Notes will no longer trade on the NYSE effective
on such date.
Following the Delisting, holders of the Notes will continue to
interact with and receive interest payments through the trustee,
U.S. Bank National Association, and the Notes will continue to be
traded over-the-counter. ETO has not made arrangements for the
listing and/or registration of the Notes on another national
securities exchange or quotation medium.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Energy Transfer Operating, L.P. owns and operates one of
the largest and most diversified portfolios of energy assets in the
United States. Strategically positioned in all of the major U.S.
production basins, its core operations include complementary
natural gas midstream, intrastate and interstate transportation and
storage assets; crude oil, natural gas liquids (NGL) and refined
product transportation and terminalling assets; NGL fractionation;
and various acquisition and marketing assets. Energy Transfer
Operating, L.P. also owns Lake Charles LNG Company, as well as the
general partner interests, the incentive distribution rights and
28.5 million common units of Sunoco LP (NYSE: SUN), and the general
partner interest and 46.1 million common units of USA Compression
Partners, LP (NYSE: USAC). Energy Transfer Operating, L.P.’s
general partner is owned by Energy Transfer LP (NYSE: ET).
Statements about the Delisting may be forward-looking statements
as defined under federal law. Forward-looking statements can be
identified by words such as “anticipates,” “believes,” “intends,”
“projects,” “plans,” “expects,” “continues,” “estimates,” “goals,”
“forecasts,” “may,” “will” and other similar expressions. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors, many of which are outside the control of
ETO, and a variety of risks that could cause results to differ
materially from those expected by management of ETO. Important
information about issues that could cause actual results to differ
materially from those expected by management of ETO can be found in
ETO’s public periodic filings with the SEC, including its Annual
Report on Form 10-K for the year ended December 31, 2019 and
Quarterly Reports for the fiscal quarters ended March 31, 2020 and
June 30, 2020. In addition to the risks and uncertainties
previously disclosed, the Partnership has also been, or may in the
future be, impacted by new or heightened risks related to the
COVID-19 pandemic and the recent decline in commodity prices, and
we cannot predict the length and ultimate impact of those risks.
ETO undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time.
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version on businesswire.com: https://www.businesswire.com/news/home/20200921005901/en/
Energy Transfer Operating, L.P. Investor
Relations: William Baerg, Brent Ratliff, Lyndsay Hannah,
214-981-0795 or Media Relations: Vicki Granado and Lisa
Dillinger, 214-840-5820
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